Emirates NBD is eyeing merger opportunities within the region and the lender will set aside more money to cover bad loans in 2011 amid debt restructuring, its top executive said on Wednesday.
ENBD, Dubai's largest bank by market value, reported sharply higher fourth-quarter profit last month but impairments on non-performing, or bad loans and on investments hit its yearly results.
"There will be further restructurings going on, there will be further provisions, the content of that I cannot say. We are not out of the provision phase yet," Chief Executive Rick Pudner told reporters on the sidelines of a conference.
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